BNBUSD is trading in a big A-B-C zig-zag correction from May 2021 highs and it looks to be unfinished. In May 2021 we saw sharp and impulsive decline, which should be labeled as a first leg A. From May till November 2021 we have seen a three-wave corrective rally in wave B and since November 2021 it’s trading now in wave C.
Wave C is a motive wave and it should be completed by a five-wave cycle. If we consider that May 2021 lows is still open. Then current sideways consolidation could be easily just as part of subwave (4) correction. Before we will see another sell-off for the final wave (5) of C towards 250-200 strong support zone .
Elliott Wave Analysis: BNBUSD Has An Unfinished Wave C by ew-forecast on TradingView.com
Interested in a more detailed Elliott wave outlook on cryptos? Watch the video HERE.